Savings Strategies for Home Buyers in

Do you want to buy a house in or the surrounding areas? If so, you will want to start saving your money right away! There are many benefits to having a large down payment or buying a house in cash. In addition to those costs, you will have moving, decorating, utility, and furnishing costs. Paying for everything is simple when you plan ahead and save up for these things in advance! Check out our savings strategies for home buyers in our latest post!

Set Up A Separate Bank Account

In order to really save your money, you want to put it in a place where you can’t as easily access it. Adding to your everyday accounts blurs the line of what you are really saving and makes it much easier to tap into those funds for other purchases. By keeping a separate account, you can set up automatic deposits, treat your savings account as a monthly “expense” and be able to really watch your money grow. Seeing the number rise in this special savings account will give you even more incentive to save, save, save.

Use A Spending App

Many people think they have a good idea of what they are spending and where each month. However, if they were to really dive into the numbers, they might be shocked at what they are really spending. The morning coffees, afternoon smoothies and quick lunches on the road really add up. You might find your grocery bill is in check, 0but you are spending hundreds on eating elsewhere. Having an app to track your spending will help you have a better perspective of where your money is going and where you can find places to cut back. Mint and Wallaby are popular options to help you track spending and maximize credit card rewards.

Sell Something

Are there some old baseball cards or Barbie dolls laying around in your attic? You might have something valuable just sitting around that you can turn into cash for your new house. It isn’t worth it to sell something you are attached to. However, if it’s not something you will miss, it could be a great way to bump up that savings account.

Save All Windfalls

Any out of the ordinary, unexpected cash you receive should go right into savings. If you weren’t expecting it in the first place, then what’s the difference right? If you receive a bonus from work, a tax return, or $20 from your Grandma who still insists on giving you money for your birthday each year… put those funds directly toward your savings.

Things To Keep In Mind

An FHA loan requires as little as 3.5% down. This would only be $7000 for a $200,000 home. Of course, it will depend on your income and your other financial obligations, but many people are able to save up this amount relatively quickly when they put an action plan together using some of the steps above.

Remember you are trying to save money, not deprive yourself completely. You don’t have to live on milk and bread or have your kids sit home all summer. Try to strike the right balance. Cut out things that aren’t essential, but still allow yourself to get a coffee once and awhile or go to the movies. Whatever floats your boat.

Don’t use all of your money for the downpayment, there will be other expenses. Many people will save up 10k, use it for a downpayment, then realize they need to buy several new appliances. Or that their furniture doesn’t fit in the bedroom. Or that the electrical bill is much higher than they are used to. You get the point Save up for the entire move, not just the downpayment.

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“Thank you for sending your letter. I didn’t know what I was going to do with this house since it wasn’t in any condition to list with a realtor.”

Gloria B.

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“Thanks for buying my Mom’s house. I didn’t know what to do after three real estate agents told me they wouldn’t list it in the condition it was in. I appreciate you being flexible with me and giving me time to remove the pictures and other valuables that my Mom had. Thanks also for not pressuring me to sell like some of the other guys that sent letters. The process was stressful enough without being pressured to sign a contract.“

Raed B.

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“Mr. Fassett – thank you for working with us to buy my Mom’s home after she passed away. When you mentioned that you would give us an offer within 24 hours and then close quickly I didn’t really believe that we would have the house sold in only 2 weeks. I’m glad I found you.”

Michelle L.

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“Dennis – thank you for helping us with our Mom’s home. This was a very traumatic experience for us, and we appreciated your patience with all the emotions we experienced during the process. You were really patient and understanding with us during the sale process, and we’re sure that Mom’s home will be in good hands. God Bless.”

Claudia M. and Nancy M.

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“Thank you for making it simple to sell my parent’s home. Words can’t express how emotional it was having to sell the house I grew up in. Thank you for being patient with my sister and me, for making the process simple, and for making us a decent offer instead of lowballing us like a lot of the other people that sent us letters did. You helped make the best out of a really horrible experience without the high pressure that some of the other buyers put on us.”

Brent and Lynn J.

Discreet Homebuyers

“Thanks for buying my Mother’s home. It was a big help that you were able to buy it without us having to clean it out and get it ready to sell. My mother had accumulated lots of stuff and after the stress of her long illness I was exhausted and I dreaded dealing with all of it. I also liked it that you gave me a very fair price for the home. I’m on a fixed income and that really helped a lot.”

We are a family owned real estate solutions and investment firm that specializes in helping homeowners get rid of burdensome houses fast. We are not realtors, we are investors and problem solvers who can buy your house fast with a fair all cash offer. Call (888)-445-0735 to learn more.

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We buy houses in ANY CONDITION! We pay CASH and you will not pay any commissions, agents, or fees. Put your address and email below and answer 5 easy questions on the next page to get a cash offer in 24 hours!

Need To Sell Your House Fast?

We buy houses in ANY CONDITION! We pay CASH and you will not pay any commissions, agents, or fees. Put your address and email below and answer 5 easy questions on the next page to get a cash offer in 24 hours!